• Key market indices
    • S&P 500: 3768.26 -1.48%
    • DJIA: 30814.27 -0.91%
    • Hang Seng Index: 28573.86 +2.50%
    • Straits Times Index: 3004.87 +0.39%
    • Gold Spot $/Oz: 1827.64 -1.13%
    • Brent Crude: 52.11 -0.94%
    • Bitcoin: 35011.91 -8.28%
  • SS&C GlobeOp Hedge Fund Performance Index returns 3.70 per cent in December (Link)
    • Gross return of the SS&C GlobeOp  Hedge Fund Performance Index measured 3.70% for December
    • Hedge fund flows, on the other hand, declined 1.67% in January
    • This is typical based on normal seasonality, and the 1.67% outflow represents lower outflows compared to the 2.11% in January last year
  • Cramer says David Tepper thinks it's hard to bet against stocks with Fed backing, vaccine rollout (Link)
    • Hedge fund billionaire David Tepper has a more positive view on the stock market - that "as long as you have the Fed being this easy and this liquidity sloshes around, it's very hard to bet against the market"
    • Key reasons investors should be in equities: the Fed's massive monetary stimulus, near-zero interest rates and optimism that the pace of vaccinations would improve soon
  • Central banks hasten push into new asset classes, credit investors look to Asia for returns in 2021 as US yields collapse (Link)
    • Reserve managers in Asia and everywhere aim to relax their investment guidelines amid the pandemic fallout, with an eye on assets such as EM stocks and private equity
    • Ultra-loose monetary policy has pushed yields in the U.S, Europe and Japan belows levels seen before the coronavirus pandemic
    • High-yield investors are willing to take a risk on Asia and can earn an average of 368 basis points more than they can on equivalent dollar debt in the U.S.
  • Myth busted: Wall Street is not investing in Bitcoin (Link)
    • Wall Street is not investing in Bitcoin as a store of value
    • Institutional investors are often limited for liquidity, regulatory and other reasons; so most asset managers prefer Bitcoin in the fund format
    • Most of Wall Street's involvement in Bitcoin is through Grayscale's Bitcoin Trust (BGTC)
    • There is no easy way to track down institutional buying as it is often private, but a good proxy would be using "whale wallets"
  • Elementum Advisors launches higher risk investment strategy (Link)
    • Elementum Advisors is an alternative investment manager specialising in collateralised natural catastrophe event reinsurance investments
    • It has launched a new mandate with a large institutional investor focused on collateralised reinsurance investments with a high risk and return profile
  • Quant pioneer profits eschewing traditional investing beliefs (Link)
    • Robert Zuccaro is a quantitative investment pioneer and CIO of Target QR Strategies and his Golden Eagles Growth Fund returned triple-digits last year
    • Zucarro will present in an upcoming webinar (free), Investor Workshop: The Seven Keys to Behavioural Investing (link to webinar)
    • He will explain why the time-worn assumption that stocks are fairly valued at 16x earnings does not apply to today's market; why he expects big stocks to outperform small stocks; and why higher volatility in fact does not lead to higher returns

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